Intech Investment Management LLC Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Intech Investment Management LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 65.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,003 shares of the financial services provider’s stock after purchasing an additional 1,193 shares during the period. Intech Investment Management LLC’s holdings in The PNC Financial Services Group were worth $467,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PNC. Gilbert & Cook Inc. boosted its position in shares of The PNC Financial Services Group by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 107 shares during the period. Gryphon Financial Partners LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $228,000. Steward Partners Investment Advisory LLC grew its position in shares of The PNC Financial Services Group by 9.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,364 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 645 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of The PNC Financial Services Group by 6.0% in the fourth quarter. TD Asset Management Inc now owns 172,924 shares of the financial services provider’s stock worth $26,777,000 after purchasing an additional 9,839 shares during the period. Finally, Stifel Financial Corp raised its position in shares of The PNC Financial Services Group by 3.5% in the fourth quarter. Stifel Financial Corp now owns 546,545 shares of the financial services provider’s stock worth $84,633,000 after buying an additional 18,341 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $183.33 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The firm has a market cap of $72.95 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. The business has a 50 day moving average price of $177.62 and a 200-day moving average price of $163.66.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.36 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.49%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analysts Set New Price Targets

Several research firms recently commented on PNC. Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $176.90.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,223 shares of company stock worth $4,453,360. 0.42% of the stock is currently owned by insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.